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Oil price forecasts cut as supply risks trend lower

2 years ago

31 May 2024

11:17 AM

Analysts have lowered their 2024 oil price forecast for the first time since February, reflecting lower risks to supply from ongoing wars in the Middle East and Ukraine, a Reuters poll showed on Friday, as markets gear up for a meeting of OPEC and its allies this weekend.

Asian petrochemical industry leaders seek ways to overcome perfect storm

2 years ago

31 May 2024

11:14 AM

The heads of petrochemical industry associations from seven Asian countries called for an international cooperation, Friday, to overcome the challenging business environment of recent years.

Hard to port: India defies Washington’s pressure to deal with Iran

2 years ago

31 May 2024

11:09 AM

Political instability following President Raisi's death introduces uncertainty, yet there are strong indications that the Chabahar Port deal will continue to be a priority for Delhi and Tehran despite scrutiny from the West.

Asia’s crude oil imports hit 12-month high, but it’s India, not China

2 years ago

30 May 2024

10:37 AM

Asia's imports of crude oil rose to the highest in 12 months in May, with the strength being driven by India as the region's second-biggest buyer is on track to see record arrivals.

Oil prices steady as solid U.S.crude demand offsets rate concerns

2 years ago

30 May 2024

10:34 AM

Brent futures dipped 17 cents or 0.2% to $83.43 a barrel as of 0921 GMT, while U.S. West Texas Intermediate (WTI) crude fell 12 cents or 0.15% to $79.11.

South Pars to reduce gas flaring by 1.2 bcm annually

2 years ago

30 May 2024

10:30 AM

Managing Director of the South Pars Gas Complex (SPGC) Ahmad Bahoush says a project is underway at the complex which upon its completion, the volume of gases being burnt by gas stacks will be reduced by 1.2 thousand million cubic meters annually.

23 Mega Projects Ready to Come Online, Owji

2 years ago

30 May 2024

10:28 AM

Iranian Minister of Petroleum, Javad Owji, says that 23 mega oil and gas projects, worth 4.6 billion dollars, are ready to come online.

Oil prices gain on expectations of OPEC+ extension to output cuts

2 years ago

29 May 2024

11:30 AM

Brent crude futures for July delivery were up 62 cents, or 0.7%, at $84.84 a barrel by 1050 GMT. U.S. West Texas Intermediate futures for July were also up 62 cents, or 0.8%, at $80.45.

Indian government offers two oil and gas fields in DSF bidding round

2 years ago

29 May 2024

3:31 AM

The Indian government has announced a special bidding round for two discovered oil and gas fields in the Mumbai offshore region and a coal bed methane field in West Bengal.

40 percent of Arash gas field belongs to Iran: Khatam al-Anbiya Central Headquarters Comd

2 years ago

29 May 2024

3:27 AM

The commander of Khatam-al Anbiya Central Headquarters has stated that 40 percent of the Arash gas field belongs to the Islamic Republic of Iran.

Iran’s Flaring Crisis: Burning Gold and Polluting the Environment

2 years ago

29 May 2024

3:25 AM

One of the most pressing issues in Iran’s energy industry is the widespread flaring of associated natural gas in oil fields, a practice that amounts to burning valuable resources and contributing to environmental degradation.

India’s Reliance to buy Russian oil in roubles, sources say

2 years ago

28 May 2024

11:43 AM

India's Reliance Industries operator of the world's biggest refining complex, has signed a one-year deal with Russia's Rosneft to buy at least 3 million barrels of oil a month in roubles, four sources aware of the matter told.

Saudi Arabia may cut July oil prices to Asia for first time in 5 months

2 years ago

28 May 2024

11:36 AM

Saudi Arabia, the world's biggest oil exporter, may cut prices for most crude grades it sells to Asia in July, the first cut in five months, as Middle East benchmarks and margins for Asian refiners have weakened, refining sources said.

Khandouzi: Privatization of Shazand Petrochemical Marks Culmination of BMI’s Asset Divestiture

2 years ago

28 May 2024

3:22 AM

The Minister of Economic Affairs and Finance, Ehsan Khandouzi, commended the management and staff of Bank Melli Iran (BMI) for their achievements in the Iranian calendar year 1402.

Raisi Determined to Boost Oil Exports, Economic Growth; Owji

2 years ago

28 May 2024

3:19 AM

Iranian petroleum minister Jawad Owji cites late president Ibrahim Raisi's demands for increased oil production, exports, investment in oil projects, economic growth, and environmental considerations.

India’s Adani Energy Solutions to raise up to $1.5 bln

2 years ago

27 May 2024

11:59 AM

India's Adani Energy Solutions said on Monday that its board has approved a fundraise of up to 125 billion rupees ($1.50 billion).

Oil steadies after weekly decline on U.S. interest rate prospects

2 years ago

27 May 2024

11:52 AM

The Brent crude July contract was up 21 cents at $82.33 a barrel by 0926 GMT. The more active August contract rose 26 cents to $82.10. U.S. West Texas Intermediate (WTI) crude futures were up 23 cents at $77.95.

South Pars Will Reduce Burning Gases by 1.2 bcm Annually

2 years ago

27 May 2024

11:48 AM

Managing director of the South Pars Gas Complex, Ahmad Bahoush, says a project is underway at the complex which upon its completion, the volume of gases being burnt by gas stacks will be reduced by 1.2 thousand million cubic meters annually.

Iran’s oil exports recover from sanctions pressures during Raisi tenure

2 years ago

27 May 2024

5:42 AM

Ever since the late Iranian President Ebrahiam Raisi took power in August 2021, the country’s oil exports have been on an upward trajectory.

Oil Revenues Rise By $15b Annually

2 years ago

27 May 2024

5:33 AM

During the 13th administration under the leadership of Ayatollah Raisi, Iran’s oil revenues rose about 15 billion dollars annually when compare with last years of the previous administration in office.

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Latest News of Oil, Gas and Petrochemical industry

NEWS Feed Atom

Oil price forecasts cut as supply risks trend lower

Asian petrochemical industry leaders seek ways to overcome perfect storm

Hard to port: India defies Washington’s pressure to deal with Iran

Asia’s crude oil imports hit 12-month high, but it’s India, not China

Oil prices steady as solid U.S.crude demand offsets rate concerns

South Pars to reduce gas flaring by 1.2 bcm annually

23 Mega Projects Ready to Come Online, Owji

Oil prices gain on expectations of OPEC+ extension to output cuts

Indian government offers two oil and gas fields in DSF bidding round

40 percent of Arash gas field belongs to Iran: Khatam al-Anbiya Central Headquarters Comd

Iran’s Flaring Crisis: Burning Gold and Polluting the Environment

India’s Reliance to buy Russian oil in roubles, sources say

Saudi Arabia may cut July oil prices to Asia for first time in 5 months

Khandouzi: Privatization of Shazand Petrochemical Marks Culmination of BMI’s Asset Divestiture

Raisi Determined to Boost Oil Exports, Economic Growth; Owji

India’s Adani Energy Solutions to raise up to $1.5 bln

Oil steadies after weekly decline on U.S. interest rate prospects

South Pars Will Reduce Burning Gases by 1.2 bcm Annually

Iran’s oil exports recover from sanctions pressures during Raisi tenure

Oil Revenues Rise By $15b Annually